PAGCOR announced its privatization plan in March during the ASEAN Gaming Summit in Manila, with the goal of returning to a purely regulatory role. Although the government-owned and controlled corporation still has five years to accomplish this task, industry lawyer Tonet Quiogue notes that there are various issues that should be clarified in the coming months.

Although a stricter regulatory framework has been implemented in the country, the Philippine Amusement and Gaming Corporation (PAGCOR) is still under heavy scrutiny and pressure to prove that it has the ability to supervise and regulate IGLs (formerly POGOs), says industry lawyer Marie Antonette Quiogue

For lawyer Tonet Quiogue, POGOs have made significant contributions to the Philippine's economy, and authorities should be more focused on enforcing existing laws for the sector, rather than shutting them down.

It continues to be a waiting game in the Philippines, as uncertainty clouds the future of the offshore gaming industry following the announcement of a POGO ban, to take effect by December 31st. A top legal expert points out that bills still need to be passed by legislative bodies to confirm the change, even as operators sit in limbo, expecting the worst. Meanwhile, SkyCity saw flat results for its fiscal year, despite an uptick in premium play. And in Macau, a joint operation by authorities busted a $420 million illegal currency trade group, continuing efforts to clean up the gaming sector.

One month after Philippine President Marcos' POGO ban, the immediate effect and December 31st deadline have sparked debate, with implementation details still unclear.

The recently announced POGO ban could negatively impact sales, earnings, and stock prices of businesses reliant on the industry, while reducing employment, demand for real estate, and sales for retailers and other businesses in the sector supply chain, economists told AGB.

Significant questions have arisen over the future of non-PAGCOR regulated offshore gaming operators and PIGOs, following the Philippine President's announcement that all POGOs must shutter by the end of the year.

A House hearing has spurred calls for a POGO ban, escalating the debate. But a gaming lawyer in the Philippines urges focusing on enforcing laws, citing POGOs' economic contributions.

The Philippines found itself on the global money laundering and terrorist financing watchdog Financial Action Task Force's (FATF) gray list in June 2021 due to junket issues.

PAGCOR is aiming to do just that with its self-run casinos, with a lawyer questioning whether the process will place any limitations on the nationalities of investors. Going forward the group will also have to seek a balance between transparency and openness to investment, as it navigates headwinds.